Cisco Systems, Inc. (NASDAQ:CSCO) – Investment analysts at KeyCorp lifted their Q3 2018 EPS estimates for shares of Cisco Systems in a note issued to investors on Wednesday. KeyCorp analyst A. Kurtz now anticipates that the network equipment provider will earn $0.58 per share for the quarter, up from their prior estimate of $0.56. KeyCorp has a “Overweight” rating and a $49.00 price target on the stock. KeyCorp also issued estimates for Cisco Systems’ Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.63 EPS and Q4 2019 earnings at $0.69 EPS.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same period in the prior year, the company posted $0.57 EPS.
Several other brokerages also recently weighed in on CSCO. Argus reaffirmed a “buy” rating and set a $50.00 target price (up from $44.00) on shares of Cisco Systems in a research note on Friday, February 16th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $44.13 target price for the company. in a research note on Monday. MKM Partners upped their target price on Cisco Systems to $48.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price (up from $46.00) on shares of Cisco Systems in a research note on Friday, February 16th. Finally, Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $43.63.
Shares of Cisco Systems (NASDAQ CSCO) traded down $0.27 during mid-day trading on Monday, hitting $44.06. The stock had a trading volume of 29,006,600 shares, compared to its average volume of 29,975,482. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. The firm has a market cap of $218,290.00, a P/E ratio of -137.69, a price-to-earnings-growth ratio of 3.29 and a beta of 1.23. Cisco Systems has a twelve month low of $30.36 and a twelve month high of $45.13.
Cisco Systems declared that its board has initiated a stock buyback program on Wednesday, February 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be issued a $0.33 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s dividend payout ratio is presently -362.50%.
In other news, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the transaction, the director now directly owns 113,154 shares in the company, valued at approximately $4,299,852. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSCO. Richard Bernstein Advisors LLC lifted its stake in Cisco Systems by 21.2% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after acquiring an additional 47,211 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Cisco Systems by 10.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after acquiring an additional 14,395 shares in the last quarter. Eads & Heald Investment Counsel lifted its stake in Cisco Systems by 15.7% during the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after acquiring an additional 5,765 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Cisco Systems by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after acquiring an additional 10,265 shares in the last quarter. Finally, Forward Management LLC acquired a new position in Cisco Systems during the 3rd quarter worth about $869,000. Institutional investors and hedge funds own 75.06% of the company’s stock.
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About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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